Canadian households vulnerable in recession

With Canadian home ownership rates already the highest in the world (69% in the latest Stat’s Can survey from 2011), politicians/brokers/financiers continue to plot how best to get even more Canadians buying real estate at record low rates and record high prices. This new OECD chart highlights the extraordinary price risk in British and Canadian home prices today as compared with the other G7 countries. To ‘afford’ the boom in Canadian consumption since 2008, Canadians have been borrowing $1.65 for every $1.00 of income.

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